Report on the 2013 Forum Meeting
The Advisory Forum (Forum) met in Tokyo on 8 November 2014 as part of the IVSC’s AGM and associated Board meetings. Over 30 IVSC member bodies, representing all continents were present. The debate was vibrant and good humoured but seriously addressed the issues and challenges that face the global valuation profession.
The conclusions from the meeting have been used by the Advisory Forum Working Group (AFWG) to prioritise its work programme for the year.
The Forum also elected two new members to the AFWG in Tokyo - Minghai Chen representing the China Appraisal Society and Gilles de Courcel representing the Fédération Française des Experts en Evaluation. The AFWG is benefiting from the insights both Minghai and Gilles bring to its discussions.
The AFWG Work Plan
The AFWG has a number of projects on its work plan. In 2013 the IVSC published a guide “Establishing and Developing a Valuation Professional Organisation” that had been developed by the AFWG. The AFWG is now working to produce practical guides and resources in support of this initial publication to help developing valuation professional organisations grow and strengthen.
During the year, we have continued to debate the issues raised by the increasing use of Appraisal (Valuation) Management Companies (AMC’s). The Working Group has developed a discussion paper regarding the impacts of valuation management companies on real estate valuations prepared for mortgage security purposes.
This paper provides those VPO’s who have AMC’s operating in their country background information considered useful if providing commentary to regulators in their respective countries about the impact of AMC’s on the professional standards of the valuation profession.
We are working to broaden our efforts to strengthen ties with all IVSC members, not just those long standing members or those with a tradition of IVSC involvement. We are seeking to develop relationships with those bodies who are not yet members encouraging them to seek membership.
To this end, the AFWG is looking to introduce a newsletter to encourage IVSC members to share information, exchange views and provide access, where possible, to resources amongst each other.
The 2014 Working Group meeting
The AF Working Group met in London on 19/20 May and was engaged in meaning discussion and debate on a number to important issues. One of the key discussions was the development of a programme for the 2014 meeting of the Forum.
The meeting forms part of the programme of IVSC meetings being held in October in Toronto.
The format of the AF meeting will change from a round table discussion to a make it a more meaningful conference style event addressing key issues and challenges facing all disciplines in developed and emerging economies.
The new proposed format includes a brief (5 minute) presentation by 3-4 individuals on key topic areas followed by a panel discussion with participants. The presentations will be on Wednesday morning (22 October) and Thursday morning (23 October).
Below is an outline of the conference topics. A more detailed summary of what each session will cover will be circulated shortly.
No. / Title1 / Business Valuation Globally
2 / The Value of Oversight and Accountability
3 / Contemporary Issues in Real Estate Valuation
4 / International Property Standards for VPOs
5 / Benefits and Challenges of Online Education
6 / IVSC Initiatives – What’s New
The chairs of the IVSC Standards and Professional Boards will also participate in the Forum meeting to update Forum members on the activities of the two boards and inviting feedback.
A full agenda for the Forum’s meeting and accompanying information package is to be circulated to all members during September. We encourage all VPOs to send their nominated representative to Toronto in October.
Nominations to the AFWG
The Board of Trustees Nominating Committee will be contacting all IVSC member bodies seeking nominations to the AF Working Group during July and I would encourage you to consider nominating a representative.
A slate of candidates will be drawn up taking into account, as far as possible, representation by geography and asset class, and with both mature and developing member bodies represented. The slate of candidates will be elected by the Advisory Forum at the Toronto meeting.
It is considered that it is appropriate to ensure that AFWG members are connected to leadership of their organisations.
Conclusion
The Forum comprises the largest number of valuation professional organisations in the world representing all valuation disciplines .This coupled with the adoption/compliance of a single set of global valuation standards provides one of the best opportunities for all valuation disciplines to unite and work together as a truly global profession.
The AFWG continues to strive to work for all members and continues to encourage all to be more engaged. We are endeavouring to make sure we provide better avenues of communication with members, however VPO’s must engage and be more active as members of IVSC other than attending the annual series of meetings.
I therefore encourage your VPO to have greater engagement with the Advisory Forum working group .You are welcome to send any questions, comments or details on matters that you require help with at any time . We will hopefully be able to assist you.
In concluding, I would like to thank The Appraisal Foundation for allowing staff member, Paula Douglas-Seidel to provide administrative support to the Forum and, of course, thanks to Paula herself.
I must also thank all members of the Working Group who volunteer their time and expertise and for the support provided by their organisations that allows them to participate in monthly teleconference calls and attend the various meetings.
Thanks must also go to IVSC trustee, Lee Hackett and IVSC staff members April Mackenzie and Marianne Tissier, for their contributions to the work of the Advisory Forum.
The AFWG looks forward to meeting with you in Toronto in October.
John Martin
Chairman
IVSC Advisory Forum Working Group
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